Everest
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Will the latest iteration of re-underwriting and management change improve the return profile of one of the largest (re)insurance franchises? -
The company also said that it expects to grow underlying margins through underwriting actions that go beyond price improvement.
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The (re)insurer had previously disclosed the $400mn reserve charge, largely connected to casualty reinsurance business from accident years 2015 to 2018.
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The charge comes at the end of Everest’s CEO Juan Andrade’s first year leading the (re)insurer.
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Everest has also promoted Charlie Higham to lead management liability and professional lines.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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Carriers have in recent weeks introduced the endorsements after receiving strong push-back from brokers earlier in the year.
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Germano has over 25 years’ market experience and joined the carrier in 2015.
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Keith Lavigne is the latest executive to leave his post as the war for casualty underwriting talent heats up.
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The promotion is the latest in a reshaping of Everest’s business following Juan Andrade's arrival as president and group CEO last year.
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Gross written premiums grew 16% in Q3 across both insurance and reinsurance segments.
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The carrier expects “significant” operating income and “positive” net operating income for Q3.
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